Monday, March 6, 2017

SENATE TO PROBE NNPC, MARKETERS OVER SUBSIDY FUNDS

The Senate said it has decided to probe the Nigerian National Petroleum Corporation (NNPC) and independent marketers over alleged subsidy fraud.

Chairman, Senate Committee on Petroleum Downstream, Sen. Kabiru Marafa, said this on Sunday while briefing journalists in Abuja. Marafa said the NNPC has not given a convincing explanation for N5.2tn spent on subsidy importation of petroleum products from 2006 to 2016. ￼

“This sum is in addition to the 445,000 barrels of crude oil for domestic consumption. This is more than the annual budget of Nigeria,” he said. “We note allegations already brought to our attention concerning the importation of Automotive Gas Oil under various import contracts wherein hundreds of millions of litres of AGO have been imported and allocated to choice marketers at discounted values,” he said.

Marafa said the committee discovered the disappearance of 100 million litres of Premium Motor Spirit worth N14 billion.

He said the committee will sanction invitees who failed to cooperate. ￼ “It is pertinent to stress that where invitees failed to cooperate with us, then adequate sanctions shall be carried out ranging from publishing of names of industry news providers.

“Where relevant reward and incentives will be available to support the courage of members of the public who come forward,” he said. Marafa said that the committee would also implement its own Whistle Blower platform to enable it get information on corrupt practices.